‘Pulling A Bloom’? FCEL Stock’s Monster Quarter Rally Has Retail Comparing It To BE’s Playbook

Fuelcell Energy has soared more than 356% so far this quarter after clocking three consecutive months in the green.

• On Monday, the company secured bank financing to deploy its clean energy solutions in South Korea. 
• B. Riley upgraded the company to “Buy” from “Neutral,” more than doubling the price target to $32 from $13. 
• Meanwhile, retail interest in the company has surged, with message volume up 1,056% in 24 hours and sentiment turning ‘extremely bullish.’

Fuelcell Energy Inc. (FCEL) stock soared more than 24% on Monday and is on track to record its best quarter in over five years.

The Danbury, Connecticut-based company has soared more than 356% so far this quarter after clocking three consecutive months in the green.

Meanwhile, retail interest in the company has soared, with message volumes soaring 1,056% in 24 hours and sentiment turning ‘extremely bullish,’ according to platform data.

What’s Driving The FCEL Surge?

A range of positive catalysts have propelled the stock higher this year. On Monday, the company secured bank financing to deploy its clean energy solutions in South Korea.

The company said that it had secured a $49 million financing package from the U.S. Export-Import Bank (EXIM) to support the deployment of five 2.8 megawatts (MW) energy blocks for Gyeonggi Green Energy in South Korea, with funding scheduled to be disbursed in two tranches through October.

Recently, FuelCell Energy also bagged a landmark deal with Fit Energy USA LP to supply up to 380 MW of power solutions for AI data centers and digital infrastructure.

Additionally, the company secured a spot on Russell 3000 index as of Friday as part of the latest reconstitution.

Wall Street Showers Optimism On FCEL

The clean energy company has also received favorable ratings from Wall Street analysts. B. Riley upgraded the company to “Buy” from “Neutral,” more than doubling the price target to $32 from $13. The firm said it turned bullish following the Fit Energy deal, adding that the agreement has increased confidence in the company’s ability to convert major data center players into customers.

UBS reiterated its bullish stance on FuelCell Energy, citing the company's partnership with Fit Energy and plans to expand production capacity to as much as 500 MW annually. Meanwhile, Jefferies upgraded the stock to “Buy” and raised its price target, while highlighting that FuelCell now has a clearer growth path through its data center power opportunity and trades at a significant discount to Bloom Energy Corp. (BE).

FCEL Stock: What’s Retail’s Stance?

Retail investors are increasingly comparing FCEL’s price surge to BE’s performance.

One user said that the company is “gonna pull a bloom.”

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Another user, who had previously noted that they had rotated out of BE stock to invest in FCEL said, “40% gap since that call, BE down and FCEL up, and we're just getting started.”

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A third user said, “With the low float and popularity gained $FCEL on a price per share could go higher than $BE and the tradeoff is as they use their stock to raise cash at higher levels towards accelerating the pace to the north star it actually becomes worth that price.”

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FCEL stock has rallied 431.19% in the past one year, while BE has ballooned 1,049.71% in the same time.

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Also Read: Why Is BE Stock Rebounding After Last Week’s Selloff?